Vector to be owned by Eurocopter

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THE Vector Aerospace Corp, which has a centre in Gosport at Fleetlands, is to be bought out by the helicopter unit of the European Aeronautic Defence and Space group (EADS).

The existing Vector operations will continue under the same name, though they will be owned by Eurocopter.

The takeover is part of EADS’ strategic plan, Vision 2020, and plans for it were reported in The News last week.

Eads CEO Louis Gallois said: ‘This acquisition perfectly fits EADS’ Vision 2020 strategy, increasing services, strengthening the helicopter business, international and more specifically North American exposure while keeping a good balance between military and civil activities.

‘It is also an excellent investment opportunity for Eurocopter, as Vector Aerospace has proven resilient and profitable growth.

‘EADS sees in this acquisition a potential for synergies and value creation for our shareholders.’